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Cannabis legality has long been contentious, but the past decade has seen significant regulatory progress. What began as a divisive social issue has become a global policy and economic debate, as governments reassess their approaches. Many now seek to balance public health, social equity and fiscal opportunity. Legalisation and decriminalisation efforts are advancing, with some countries expanding medical and recreational frameworks, while others maintain prohibition or trial limited schemes.

In the US, cannabis regulation remains unsettled. Over 30 states have banned or restricted intoxicating hemp-derived cannabinoids such as delta-8 THC. Congress is considering changes to the 2025 Farm Bill that would redefine hemp and close the “intoxicating hemp loophole”, potentially banning compounds like THCA and delta-10. This uncertainty has eroded margins and weakened investor confidence.

Globally, Canada retains full legalisation. Germany, Malta and Luxembourg have introduced recreational reforms, while other European nations trial pilot schemes. Asia and Africa largely uphold prohibition, though interest in reform is growing. As legal frameworks evolve, governments face the challenge of crafting policies that ensure public safety, support industry growth and address the legacy of prohibition.

Against this backdrop, Financier Worldwide turns to some of the leading lights in the field, who share their stories…

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